As seen in Breitbart
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Republican presidential nominee former President Donald Trump and Elon Musk made plenty of news in their August 12 “X-cast.” Perhaps the most consequential statement was Trump’s assertion that “we have 100 to 500 years of oil left.”
The policy implications of those words are vast: We are not running out of energy. In fact, it is just the opposite.
[…]
Yes, we have that energy wealth to pay down, even pay off, the national debt. According to the Institute for Energy Research (IER), technically recoverable oil resources in the U.S. total 2.136 trillion barrels. At the current price of $80 a barrel, that’s $171 trillion. Moreover, according to the IER, we have 3.391 trillion cubic feet of natural gas. That’s worth $165 trillion.
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Read the full article here, at Breitbart
